Opportunity Issue 108
Opportunity magazine is a niche business-to-business publication that explores various investment opportunities within Southern Africa’s economic sectors. The publication is endorsed by the South African Chamber of Commerce and Industry (SACCI).
Opportunity magazine is a niche business-to-business publication that explores various investment opportunities within Southern Africa’s economic sectors. The publication is endorsed by the South African Chamber of Commerce and Industry (SACCI).
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THAPANTHA FINANCIAL SERVICES<br />
Demystifying<br />
financial products<br />
CORPORATE PROFILE<br />
Financial services with<br />
a heart and soul<br />
Too many people are confused by financial services offerings, says the Executive Director<br />
of Thapantha Financial Services, Tsotetsi Phoba, whose firm works hard to match people and products.<br />
What inspired the creation of Thapantha Financial Services?<br />
Having worked with organised labour for over 20 years, the need<br />
still exists for an independent financial services company. Most<br />
products which are available in the market have limitations as<br />
they don’t have a space for an independent comparison analysis.<br />
Our role is to analyse the needs of workers and provide the best<br />
relevant solution which is available from across the financial<br />
services sector. All financial services providers are considered and<br />
the best value proposition is offered to the market.<br />
Where is the biggest gap in the public’s<br />
understanding of financial services?<br />
Medical aids, life products and investments which are being offered<br />
in the market are very complicated and need to be simplified. We do<br />
that by offering relevant financial literacy.<br />
How does TFS go about rectifying this gap in understanding?<br />
We have staff members who are highly trained in each area of their<br />
expertise. We also partner with experts in each field who offer an<br />
easy understanding of products.<br />
Does the training help people spot scams?<br />
Our training empowers our potential clients to ask all relevant<br />
questions when confronted with dicey product sellers.<br />
How do you achieve the aim to<br />
“demystify financial services products”?<br />
Simply put, we design products with our partners and experts which<br />
fills the gap in our market. Our Thapantha Financial Services Big 5<br />
funeral package, which is underwritten by Old Mutual, is such a<br />
product. Our policies are administered by House of Administration<br />
(FSP 50841). With this product, from as little as R125 per week, you<br />
can cover any 10 dependents with insurable interest for a<br />
benefit of R10 000. In that product you can cover members<br />
who are up to 85 years at entry. Our unique offering<br />
has an optional savings plan from as little as R25 per<br />
week. Through our partner RISE, our Asset Manager, the<br />
money is invested in the money market. A member can<br />
opt for a termed 12, 36, 60 months or an open-ended<br />
withdrawal. This product encourages a savings culture<br />
while also paying for a funeral plan.<br />
Does the company have expansion plans?<br />
We have grown phenomenally in the past two years<br />
where we have over 20 000 lives on our books and this<br />
growth has attracted more service providers who wants<br />
to partner with Thapantha Financial Services.<br />
Big 5 Funeral Cover Packages – Protecting your loved ones, your way<br />
We have offices in East London, Port Elizabeth and our Head Office in Sandton.<br />
Our website is www.thapantha.co.za or we are available on 087 802 7668. Any enquiries can be sent to enquiries@thapantha.co.za.<br />
64 | www.opportunityonline.co.za
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